So if I I don't have the GIAC cert that is equivalent to the CEH would I still get hired at company XXX?  Would they just see that I have my CEH and then ask me if I would be willing to take the gov version and then pay for it or would they just pass me over?

Sure of couse.  But lets make this a even playing field.  I have the CEH and a company that I applied for shows interest in me.  Would the final decsions be based on me not have the GIAC cert and having the CEH. 

I understand this is a tough question to answer as there are many variables that could affect the decision.

Great, this is the answer I was looking for.  Answered my question fully.

I interviewed for a position recently that wants a 4 year degree, and "SANS GIAC or CISSP".

I have none of those things. I am however, the last I heard, the top candidate for the position. It was my phone interview that made them interested in me for another position.

So as we said above, it's really hard to say what will get you in the door. Just be ready to sell hard and try to hit it out of the ball park when you get a chance.

CNDA was EC-Council's nice way of saying "Certified Ethical Hacker" however, its pointless now that the C|EH is DoD 8750 (http://www.eccouncil.org/about_us/dod_8570.aspx) so nowadays, you're not going to be "shunned" for having a C|EH and applying for DoD jobs - clearance and "the ability to obtain clearance" mean all the world at the end of the day.

I'm always torn about certs. I like them, but the reality is, its nothing more than me challenging myself. I don't get them for jobs since I have many years experience. To be honest, never needed any of my certs. Anyhow, that being said, the reality is, in some industries, it is easier to get your foot in the door and depending on your position, a cert in that arena can be a mandate. For example, if you work at a Forensic Firm and you're called in to speak with say a DA or an attorney, do you really think they'll give you the job based on nothing more than experience? Or do you think it would make more sense to present a "certified forensic expert?"

I say, do the certs to challenge yourself and learn. At the end of the day, things trickle into place. Forget about what others think (seriously). Do it for the challenge in an effort to be the best you can be. When you've learned to get comfortable with this concept, I guarantee you things come easier as opposed to: "I wonder what will..." NO... Don't wonder, do things for you and you won't waste time wondering, things level out at the end.